Jakarta, CNBC Indonesia – Former President Director of Bank Mandiri (BMRI) Agus Martowardojo revealed the dire condition of Bank Mandiri 20 years ago. At that time, the decline in the condition of Bank Mandiri could not be separated from the economic crisis that hit that year.
“When I joined Bank Mandiri on October 2, 1998, Bank Mandiri was established to accept the merger of 4 banks into Bank Mandiri. At that time, the crisis conditions resulted in a total loss of 4 independent banks of Rp 124 trillion,” said Agus when accepting Bank Mandiri’s lifetime achievement in 23rd birthday, Saturday (2/10/21).
A year later, namely in 1999, when the legal merger of Bank Mandiri was legal, at that time there was still a total loss of Rp. 68 trillion. That amount of money must be paid to build and avoid Bank Mandiri from the worst.
“Bank Mandiri in 1999 was decided by the state to merge and get a capital injection of Rp 174 trillion, so the condition was due to the crisis but we are grateful for Mandiri’s 23rd birthday. In 1998-1999, Mandiri’s total assets were only Rp. 240 trillion, now the total assets of Bank Mandiri Rp. 1,600 trillion, it has been many times over,” he said.
Moreover, at that time it was not easy to do a merger. Agus revealed that the biggest difficulty is in terms of consolidating human resources (HR).
“Now the economic crisis is no lighter than 1998-1999, but we can see that as soon as independence and the government is ready to face the crisis caused by the pandemic, we can keep our independence and continue to grow well,” said Agus, who served as CEO of Bank Mandiri in 2005- 2010.
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